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DOCU",'ENT II DEX
ITEM ,,
itu of
•
aktIVIP 4.* / ot, • •
Offtet G1t !pi& 0*,t1,
Mrs Joseph R. V-1!;,-1, .„,
Alexander &
Suite 2323
Two Peachtree Stroe, t.
Atlanta, Georgia 30303
Dear Mr. tto:
flaran
denuary 2, 1976
2X4 Pa 1 Orevieen DP,.
P.Q Ba, 4070$
MiAtat, PlOttA 13133
SUbject. to the a!)prov,J1 of the City Conirsion by
of a forral revolutio, the terrs of yolr offer cont
in your letter 6Jted November 11. 195. attached hereto _nd
rade it part hercuf, are heroby deeeptea. Upon pavriag-2 cf
the formal reEolution. the terms and co::ditions vet fcrt. in
your afore:iaid letter will constiLuto tho entire agret.
Very truly yours.
• "SUPr
CA,/ r%nt-r n
t--4.71.1,
DCC JP. EN Ts
FQLLOW
? :
Dirc.CLor c '
City 0.
'.b. liG:•:
Miami.
•
:rAAfait Iv
trwri
h'oveebet 11 , 1'175
n "^ t" ,TIvE
FOLLOW'
Dear itr.
IL w'aL a pleasure to meet with you and your associates to
c:ircu s the Cite's retirement plan and to describe the
consulting actuarial scr•viee of Alexander & Alexander. We
appreciate the tie'_ that you took to meet with 'US.
We would lock :a tc t•.D:_:,ir.g with the pencian Scat: and
to previdine for your retirement progrem.
We understand t:'..: t: tee ::i _'dial prc j.':t would be ari actuarial
veluat:Lo.'i t'+_ t.} i.::..: a: valuation O; the cot
in + _ _ t:t: -
•
Lr:p1 cyC'c-•
Our ectu..riol ...
`; • T
1. eevi.:'e of t.'. .'urrc nt tilt:: and dctuarli:l valuation
to ccterei fur: in.g levels maintained by cur-
rent contribution level to the plan and, if
different, the contribution level necessary to main-
tain actuarial soundness of the plan.
Cal.nulution of fund el status of the retirement plan
r, including a measurement of the total value of lia-
r bil .ties accrued under the plan to date in comparison
2 to e::i e ti.nY asset:.
rc^
{)
Review of existing experience studies and, based on
vnch studies, recom ndationc an to any change in
actuarial arsumpti.ons or funding basis we believe to
be apI:rnpriate. Cal.culai: ona to dct-ermina cot level
t r ccrr_nt ( 1..:2 .. -.; ol tn,! chz.n_ :i .n Itc:"t '• bola.,',
C n r,:'1 . & 1 a: ::uni: L «:.`a::. Analys io of cos a is i feCt
C'rf clitu..-1e in a:%cu:i; Lic.ns. •
Sl .. 7 t , i is isi .!
�3 ,..,' . . I. +! . .
11`•I • �.. + •R
`2.r 4i +.st•• • 4i.••
Cc`J'e t ir:J
t•� •'..rk; variVara i it M 1 1
q•wr li
Novo.1i, 1975
4. C .1. .:...`.i::i or th C :,` .. i r af: i ii'.q because
plan o{ tilt_'r_oL to the t3V. rd.
is -•.1.. h cai e , ZG,Ilal .jc 66 -.,.a pL.pare a written
di:;cussion of the chan•;:es in question and alculate
the cost of r. ach channe separately.
5. We would devote a senirate section completely to the
potential IRS aspects pertinent to the plan, to:ling
into account the recc;nt pension legislation. That is,
although th'a federal pension legislation does, not now
cover municipal plans, our study would analy ce in
detail the impact on benefit✓, co:;ts w plan provisions
that the legislation ;:said have if it were extended to
municipal plans.
t.
a; s .s •µ t pr::,mot nt and ::is-u s 7 . C.o.ifre:,. :pus:� _.. ... ... o � �.�
the actuarial resort.
We estimate that our fee for this study and the sleeting in
Miami to present and discuss the 'report would be $G.000 to
$6, 500. We would agree to establish $6,500 as the naximu::t
fee for our tire and expense charges in any event. If our
time and expense charges are less than the quoted range, the
actual lower amount would be billed.
Qualifications
Alexander & Ate: tinder's Conzulting Actuarial Divi3io:t is a
national organization with consulting actuarial offices in
six cities in the United States :Ind four ztc_ aria1 orfiles
in Canada. it 4 have one of th-. largest p i ionai 1 ,
qualifi ,2 leads • f consulti
and our client is alwayl "� •_ - .• +.l r%.:Y1
rc:.pons ib e for his acceun'_.
%.tort, with account e::e7uti-.ca:.
l u.trial. Division -:.ors n'1 .i ! .� ..
income solely from fees t,.<< .•
"SUUPPORT1VE
"ENT S
• !-,,t,
SUPPc TVE
DOCUMENTS
FOLLo,"
The Consaitir.
urrdcr my circcrio;1
the o i.
cCnsult.iI:
of threta rt i'
of the c:~i'
..
I1 t r..ir• r• I%.i r
it bm►. i b ...
. • ;sr . qi0/10 gp.
is
., .y11:•„; of
in
staff consists
tu.:riesi four Associate
( I.1 of Mum are
pro_et'c .. . ,. _ tt�'1 program of the Society of
staff. We have a Computer
_-o1e1 y for the use of our ectuariel
....7i a talented anf (.:::p rieneed staff of computer
1 . The fact that t.c do have our own computer operation
i!:; to give tr i A; lit and complete service on a routine
L.
i:or!; for ovc. r in0
i.:nG i u. ' 1..? �'' �:.. 1:'t is 'y' ch' s,
Sas acut . City of: C. ,-
City of Albany a r i Col L .,
, .. `.' ` C'
C t t.1- of Fort ;'very.
Our ConLultin^y I)' . : ion ? . i.:.: • :J, .'2 t .' e: , !"!.{'Aced in z.11 Ft1askes
of employeeInc-h,e r i i t. ?: ': i.i.'i .. r. t ti1.0 4 _ ."..^.:::..:1 t.ing ser-
vices to our clients. In ar:,;:tiori to th,- actuarial tte y,
would be happy to l-ro'i.c? t!:_ : c.' 11C:. i:li:Jr:' .:ti 'l 4I,:i
arsist:ance:
A. Prf'l.' .ra::'_C n of 01 rEC' ..�r..2 ._:.•_ .2 ? :�}..'
r )orti.n7 i.O ' _ •. + ....
p� :1i:� . 1'L C .:r'wtt . _ 'j : rL }.•. r ^ t <'. _ r .
�t._..J•:•C s•.� r 1_ d, ta; lc d r.'p!-ir . .. r clu
L_ _ n..:>cr ,P ._. u'for th'_
r, 'nt:_ ti:o� id+ ': uc1. Plan De
Dt c
:e„eel i) t.`. ��`i
r, . rr-,:: • •. t ,� -
t:. a
:
•
,.
% .s•�i�: ♦ Nw'�
it,:3
rag.? F,;l,r Novombor 3.1, 1975
Jacklon'1ille, T'lorida, TVA, the St.ito of Virginia
and bthrra. Our titan and exponsa char•• os for the
preparation of indivi: uj1 stat'enantw to employees
and inaividui: r_ rds would vary
dcpendin on the Je& iq:- +i;:: d tail the Board wished
try use. We Would happy to dis'zuss these `.ub je_cta
with the hoard if it i of int,:r'cst.
D. We. are fully prepard arr3 ex; eri�r.-nd in t,reD`..±ing
drafts of documents fhi.' ncrA, an::/or a:-: nded plans and
ordinances. We h=ive Izsistud citiuo by p -'7:3rini"; 9
draft of the co-np1Qtr, ir. ludin3 ro.fa :Imes
to the City C•r: rt•,r, r,
t•.Ju1.1 to c, +. , .. :; . if
D.
E.
•
{'LiL .1:1J to
cent regarding th _ Pl.,no-
'Situation of rh-,
♦ ..
.i::�r ibutions
ar.
r.••. _.. ,Lim a ni
tho
by ,_,.,.r
:L:? fit:
P
w ti •• r'tti
��,,,- r�M
•
Pie
t\ r .04 • f Oft NON ...2 zgr
...•. :46"sfi klii a I Lail 'es 4
, ) 1 f,,1
. e.—ii, a ilingii i lo*, I. i
sh u
Nvnmb.-er 11, 1975
about $35-$.15 rer c.2rtiL.c.1Lion. v- .v.0.11(1 ,tyree
lo ostnbli.ih a maNi:- .A 0: pie
ctii-
catiri, rubjost to r,,t ltLf‘r fl.):1.1.3, or. the
first 20 cJetifloati.;, r cur_ tirot.
The main test of satisfa'!tory b-2;1,7!fit consultin;
service is the qualit*,,, into thin
and thu diligence shown by firN in LtIin with
the particular problems ot Lh,,!ci PrempLn3, e!!icienty,
internal strength, ocop,". of 0Q.CVICC anti balanc-_-_, of organl-
Sation arc also itnportant aF;s-..L!t.s. th.-tt vou
would find that A.1r t h M2 a 3 :
each of !-L'l . tti to ap:;11.* ou
cc IA••:?:.• to p t • actua.:
to t.h. :••• •• • • ' • •
% : • • • • • • • • • •.
your
, 7 ..•_• :••••••11,. your.,
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6 ..foiLph4 R
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'Chills
IFMONAL
$WCADION
Merle Deland
210S S.W. 23rd Street
Wag, P'lo r tda 33143
lees to Atlanta, Georgia, 1913
Muted, December 1975
1943-1975 Employed in various capacities with the South
East First National Bank of Miami, wo S. Biscayne Blvd.
Positions included Assistant Vice President for general
banking, personnel staff from 1952 and personnel officer
from 1959-1975.
Attended Stetson University and New York University.
Graduated from NYU with a B.A. in English (1933);
carried minors in Spanish and Psychology.
Studied Personnel Administration at the University of
Miami.
PtorissIONAL
ORGANIZATIONS Personnel Association of Greater Miami (served on the
Board of Governors)
SLEW
ORCANIZA
American Society foining and Development.
American t:istitute
tking: taught course in super..
vision ..nd personnel management.
Rational Association of 3ank Women (served as
vice-president for the South East).
Soroptomist, served as vice president and trsasur�ir
Peesently associate member. Soropto.ist is an international
s ssrvice club. The Miami chapter Gums .od runs
for the elderly.
St. Philips Episcopal Church, Coral Gables: active to
Gray church activities.
Dede's Employ
president, chat
of the execut
Trust, member o
in drawing up
the handicapped.
capped Committee, served as vice
f the Membership Co■atttoe, member
r of the Hotness Stain
pent committee, active participant
ttve action plan for taring